This is a solution of Unit 2 Marketing Assignment Help that describes about Developing business
The macro and micro environmental factors that could influence marketing decision of “Appy foods and drinks” are described below:
Micro environmental factor: these are the factors that could be controlled by “Appy foods and drinks”, such as:
Customer: Customers are the game player for any organisation. In the case of “Appy foods and drinks”, the whole marketing decisions of the organisation depends on the nature, attitude, and choices of the customers.
Competitors: The competitors of “Appy foods and drinks” affects the marketing decision making of the company as if the competitors is offering the same product with the value added services at the same price then “Appy foods and drinks” has to reduce the price of the product to attract the customers (Luan & Sudhir, 2010).
Employee: the characteristic of employees such as their experience, skills and knowledge are the real assets of the company. To achieve the marketing objectives or plan such as make the product launched at right time, “Appy foods and drinks” need to keep the employees happy and motivated toward the organisation.
Macro environment factor: These are the environmental factors that could not be controlled by “Appy foods and drinks”, such as:
Political factor: political conditions such as taxation policies, entry rules also affects the marketing decision especially the decision that are taken for setting the price of the product. Such as if the government charges huge amount under taxation policy then “Appy foods and drinks” has to increase the price of the product.
Economical factor: economic factors such as inflation, exchange policy, employment rate of the country also could affect the marketing decision of “Appy foods and drinks”. For example, at the time of inflation, the employment rate goes down (Murray, Gao & Kotabe, 2011). In this case “Appy foods and drinks” has to reduce the price of the product to make the product available for the customers.
Social factor: the social factors such as value, beliefs, culture and rituals of society also could affect the marketing decision of “Appy foods and drinks”. Such as, for the promotion of product the organisation must choose the campaign that supports thee beliefs and values of the culture of the country.
Segmentation is a process that helps the organisation in dividing the whole population in small segments. These segments are different from each other in various means such as location, occupation, age, gender, lifestyle etc (Powers & Loyka, 2010). The members’ characteristics of one segment remain same. Basically there are four type of segmentation that is geographical (population is divided according to location, region etc.), demographical (population is divided according to age, occupation, gender etc), behavioural (population is divided according to loyalty, usage of product etc.) and psycho-graphical segments (population is divided according to lifestyle, personality etc). The segmentation criteria for new product of “Appy foods and drinks” are as follows:
|Age||15-40, especially the millennial generation who born after 1980|
|Occupation||Students, children, old people and families|
|Life style||Outgoing people and lively people|
|Location and climate||Near schools, colleges and travel destinations|
Targeting strategy is the strategy that helps the organisation in selecting one or more segments on the basis of the available resources and the capabilities of the organisation. for “Appy foods and drinks” it is very important to choose the targeting strategy wisely as the whole success of the marketing process or plan depends on the fact how well the organisation is able to choose the most favourable market segment. As mentioned in the research conducted by BCG group, the millennial are most interested in adopting the eco friendly products. And an example of targeting millennial has been seen in Adidas as the company won many titles and awards for engaging millennial generation. So it would be beneficial for the company to focus on the age factor of the demographic segmentation for the company as this is the factor that can bring the right customers for “Appy foods and drinks” such as children, old people, millennial (Schoultz, 2013). Read more : Unit 12 Hospitality Provision In Travel And Tourism Sector
According to me, “Appy foods and drinks” should focus on the concentration targeting strategy. This is the strategy in which “Appy foods and drinks” need to focus only on one segment rather than more than one.
The buying behaviour of customer comprises of the internal and external factors that explains the fact why the customer chooses particular things. These internal and external factors are nature, attitude of customer, spending power, environment etc. The buying behaviour of the customer can easily affect the marketing decision of the business and also can guide the management of the organisation toward the improvements in product if analysed wisely (Sheng, Zhou, & Li, 2011). For the healthy food and drinks, “Appy foods and drinks” also need to analyse the behaviour of the customers. The customers for the healthy food and drink belongs to age 15-40 especially the children, old people and millennial. Here I am taking the example of millennial to explain the different buying situations:
Buying decision based on social situations: millennial generation is more likely to buy the product on the basis of the opinion of their family and friends. “Appy foods and drinks” has to do more preparation to promote the healthy foods and drinks among the customers especially the millennial.
Buying decision based on technology friendly or international environment: Millennial generation is very friendly to the technology and the smart phones. For them, the product is existed only if the product has its identity on internet (Sheth, 2011). Before making a purchase decision, they go to internet to fetch the information about the product. Thus, millennial buys the product on the basis of its availability on internet.
Positioning is a strategy that helps the organisation in setting an image into the minds of customers. “Appy foods and drinks” is going to make a healthy drinks and foods especially for the children and old people. Hence the positioning of the product should be on the basis of the health issues not on price or competitors basis. For the positioning of the brand, “Appy foods and drinks” may use the tag line such as “A beverages brand that thinks for your health first”. This would attract the attention of each group that is the old people, parents and millennial.
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